Student Loan Disclosure Modernization Act
Summary
Student Loan Disclosure Modernization Act This bill requires loan disclosure forms for federal student loans to be written in plain language, thus enabling borrowers to understand loan terms, total costs of loans, and estimated monthly repayments. Borrowers must acknowledge in writing that they have read the form before the loans are issued.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2021
Committee Review
Floor Vote
President
Introduced Apr 29, 2021
Last action Apr 29, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Apr 29, 2021
Committee
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
upper
Apr 29, 2021
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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